RURAL RETIREES:

There’s Gold in Them Thar Hills!

RURAL RETIREES:There’s Gold in Them Thar Hills!

Boomers: Born between 1946 and 1964 … creating an 18-year surge of retirees.

Retirees and Volunteerism

■Formal and informal volunteering■Benefit to community■Benefit to individual■Challenges

Benefits to Community■ Critical community needs met by volunteer

organizations– Increasing due to funding cuts– More services provided by volunteers in small

towns

■ Minority retirees can bridge to minority community members through language, understanding/sharing culture.

■ Informal volunteering: social fabric of community

Benefits to Retirees: Longer, healthier lives

■ Live longer ■ Have lower rates of depression■ Report lower disability■ Report higher levels of well-being

Evidence: Benefits are due to increased physical, social, and mental activity that are a result of volunteering.

Health Benefits from Volunteering:Who benefits most?

■ undergoing a life stress or significant loss■ at risk for being isolated■ transitions such as unemployment or

retirement■ rural retirees■ those who do not drive or are limited drivers

Volunteering: Challenges to MeetRural:■ Distances, transportation, costs■ Smaller the community, the larger the portion of

essential services delivered through volunteers.

Other:■ Economic – people working longer into “retirement”■ Requires infrastructure – recruit, train, support■ Need to make volunteering appealing

What Boomers Seek in Volunteer Opportunities

■Have an impact■Wide choice of opportunities ■Organization to fit position to their interests■ Shorter-term, more flexible opportunities■ Apply their workplace skills (not stuff

envelopes)■Have leadership opportunities

Service Provision in a Rural Setting

Retiree Volunteerism:Aging in the Gorge Alliance

■ Tina Castanares, MD; grassroots; 150 members■ Age-Friendly Community ■ Committees: Housing, Transportation, Caregiving

and Caregivers, Intergenerational activities, Community awareness

■ Gorge-wide reading/discussion events: The Age of Dignity

■ First annual Rural Health Forum

Attracting/Retaining Retirees: An Economic Development

Strategy

Boomers, Wealth, & Spending

Many are financially solid.

Some have considerable wealth.

Boomers spend about $2.3 trillion annually - more than half of U.S. consumption!

“In-Migrant” Retirees

People planning to move to a new location on retirement: More healthy More educated More wealthy

Soooo……Many communities now trying to attract these retiree$ for economic rea$on$.

Economic Benefit of Retirees to the Community

■ Assets ■ Incomes ■ Spending (high “employment multipliers”)

Entertainment, recreation, transportation, healthcare, housing, banking, financial services, insurance, utilities, household goods, food, …

■ Taxes ■ Employment

Economic Benefit of Retirees to the Community, cont.

■ Visitors■ Economic diversification■ Economic stability■ Community development■ AND all with little strain on social services,

criminal justice system, or schools.

$$ Advantages of Attracting Retirees

■ Incentives to attract businesses are more expensive.

■ Infrastructure costs for attracting industry are more expensive.

■Affluent retirees have higher incomes than new employees of relocating businesses, generating more taxes.

Attracting Retirees: A Viable Economic Development

Strategy?Considerations:■ The area’s assets■ The community’s long-term vision for itself■ Buy-in and commitment of community To build a senior-friendly community To integrate in-migrants into the

community’s economic and social fabric■ Potential negatives

Potential Negative Impactsof Attracting Retirees

■ economic, social, and governmental costs ■ rise in cost of living■ sprawl and environmental degradation■ increase in housing prices and taxes■ increased demand on local infrastructure■ threaten community’s way of life■ may eventually strain local healthcare system

Attracting In-Migrant Retirees:Recruitment, Marketing, Advertising

Certified Retirement Community

Certified Senior-FriendlyCommunity

RURAL RETIREES:There’s Gold in Them Thar Hills!

Rural retirees: RURAL RETIREES:� There’s Gold in Them Thar Hills!Boomers: Born between 1946 and 1964 … creating an 18-year surge of retirees. ���Retirees and VolunteerismSlide Number 5Benefits to CommunityBenefits to Retirees: �Longer, healthier livesHealth Benefits from Volunteering:�Who benefits most?Volunteering: Challenges to MeetWhat Boomers Seek �in Volunteer OpportunitiesService Provision in a Rural SettingRetiree Volunteerism:� Aging in the Gorge AllianceAttracting/Retaining Retirees: � An Economic Development Strategy Boomers, Wealth, & Spending�����Many are financially solid. ��Some have considerable wealth.��Boomers spend about $2.3 trillion �annually - more than half of U.S. �consumption!�“In-Migrant” RetireesEconomic Benefit of Retirees �to the CommunityEconomic Benefit of Retirees �to the Community, cont.$$ Advantages of �Attracting RetireesAttracting Retirees: �A Viable Economic Development Strategy?�Potential Negative Impacts�of Attracting RetireesAttracting In-Migrant Retirees:�Recruitment, Marketing, Advertising��Certified Retirement � Community��Certified Senior-Friendly� Community� RURAL RETIREES:� There’s Gold in Them Thar Hills!Slide Number 23